Role of society and business in advancing global efforts to fight climate change

Heads of state, United Nations agency heads and CEOs of the world’s top businesses will gather in New York on Tuesday, September 22, at the United Nations Summit on Climate Change to explore the role business and society can play in advancing global efforts to fight climate change.

Thomas Nagy, executive vice president of biotech innovator Novozymes, will participate in the Business and Civil Society Special Session and Energy Solutions Roundtable and address existing and future biotechnology solutions that can have a dramatic impact on the reduction of CO₂ emissions.

Nagy was invited to participate in the summit as a result of Novozymes long-standing commitment to sustainability, and the company’s membership in the United Nations Global Compact -- a strategic policy initiative for businesses that are committed to aligning their businesses with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption.

“From food to biofuel, and from clothes to biopharmaceuticals, numerous sustainable biotechnology solutions are readily available to help solve some of the world’s most pressing challenges, particularly with regard to economic and environmental challenges such as reduction of CO₂ emissions and overcoming resource scarcity,” Nagy said.

Nagy noted, however, that deploying these solutions globally will require long-term, competitive markets to attract necessary investment. Novozymes favors a global minimum price on carbon emissions, in combination with a long-term phase out of subsidies for high-carbon emitting energy sources. The end result, according to Nagy, will be creation of a level playing field for low-carbon energy sources, accelerated investment in commercial-scale low-carbon solutions, such as advanced biofuels, and an increase in global prosperity through accelerated innovation and large-scale job creation.

The biofuels industry has recently made significant progress in delivering on the promise of advanced biofuels, Nagy said, and commercial-scale deployment could be only two to three years away if the government provides clear, coherent and long-term policy signals.

With global headquarters in Copenhagen, Denmark, Novozymes will be an active participant in the United Nations Climate Change Conference in December, hosting roundtable discussions on the topics of biofuels and sustainable agriculture to continue forward progress and global coordination on these issues.

A world leader in bioinnovation, Novozymes develops biotech solutions for more than 40 industries, offering more than 700 products that are used in 130 countries to improve industrial performance and reduce resource consumption. In 2008, the use of Novozymes’ technologies across industries resulted in the reduced CO₂ emissions totaling more than 28 million tons – the equivalent of taking 4 million cars off the road.

http://www.novozymes.com/